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    XAG/USD: technical analysis on 27.05.2015

    The pair XAG/USD started this week with the significant decline, which was suspended due to the US negative data on the number of orders of durable goods. At the moment the pair is traded in the downtrend near the level of 16.78, which coincides with Fibonacci retracement of 61.8%. Breakdown of this level in either direction will trigger either upward movement in price to the level of 16.95 (Fibonacci retracement of 50.0%, middle line of Bollinger bands,  upper limit of the downward channel) and 17.14 (Fibonacci retracement of 38.2%) or the decline to 16.65, 16.45 and 16.20.

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